Information guides of Credit Cards

FACTORS TO COMPARE CREDIT CARDS

Credit cards play an important role in our daily lives. This is because we cannot carry cash wherever we go. That is why these cards that are also called plastic money come in very handy when we want to buy something at a store or any other place. Credit cards have revolutionized the way we use money and have multifarious advantages. This is why it is important to learn about them.
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However, in contemporary times, there is a wide variety of credit cards from which we can pick and choose. Hence, this can lead to a large degree of confusion that needs to be sorted out. Here we discuss the various factors that can be used to compare credit cards. After reading this article, you will be in a better position to select the credit card that will work the best for you.
Credit cards have become ubiquitous in modern times. Nobody likes the hassle of carrying cash when out on travel, holiday or business. Hence, choosing the right credit card is crucial otherwise it will lead to repercussions with financial implications. Hence, given the current scenario, it becomes extremely important that you embrace the ubiquity of credit cards and learn about what factors can be used to compare them.
WHY CREDIT CARDS ARE USEFUL
From the above discussion, it is clear that credit cards are extremely useful and can be used to their maximum advantage. They will not only help your financial transactions go smoothly but will also spare you from the unwieldy and cumbersome procedures of using cash for all your needs and purchases. This clearly reflects its utility and functionality.
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How to cope with financial anxiety?

Are you not getting sleep even if it's late at night? Do you wake up in the middle of the night and think about money? Is the topic of money leaving you in a cold sweat? There may be deeper reasons behind such stress and could be due to financial anxiety.
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What is financial anxiety?
Financial anxiety is a feeling of worry, fear or unease about our financial situation. It can be caused due to several reasons, such as lack of funds, unplanned emergencies or not understanding your financial numbers. Not having financial planning can cause financial anxiety. The most common reaction to financial anxiety is avoidance. Physiological definition of financial anxiety is an unhealthy, uneasy attitude towards engaging with and administering personal finance in an effective way. Financial anxiety is not about becoming rich and making more money, it is some sort of different stress caused due to not managing your finances properly and not planning your future..
To overcome this anxiety we should make a plan and increase our exposure to financial information. The fact is that you can absolutely put yourself in control of financial thoughts and actions.
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Reasons for financial anxiety:
Lack of funds, account overdraft
All of a sudden increase in debt numbers
No proper plan about finance
Discomfort with accumulated wealth
Overspending

What is a Debt Management Plan?

A debt management plan is for anyone who wants to pay off their debt with the help from an organization that specializes in helping people get out of debt, such as a nonprofit credit counseling agency.
These organizations help you figure out the best way for you to lump your debt from high-interest credit cards, for example. They help you come up with a framework to get rid of the debt in the next few years. The goal will likely be to have your debt fully repaid in the next three to five years.
Because you’re essentially having the debt management organization pay off your original debt, having this plan doesn’t negatively impact your credit score than if you were to file for bankruptcy.
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Who is debt management for?
Debt management plans provide you with the resources and tools you need to get you going on the path to a better financial life. It’s for anyone who has struggled to pay off the debt in the past and wants help from a professional.
A debt management counselor will assess your situation and help advise you on which option is best for you.
For example, if you mostly have unsecured debt that you know you can reasonably pay off in the next year or so, you could choose a debt consolidation loan or balance transfer credit card instead.
The counselor will help you better understand how to better save to reach your goals. By teaming up with a debt management resource, you get the support to pay off debts, which prevents you from defaulting or having to declare bankruptcy.
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How to protect your credit card after a data breach?

With advancing technology, most of our personal information has moved to the digital world, making us more vulnerable to cyber-attacks. a data breach is a type of cyber attack that can be defined as a security incident in which personal information is accessed without authorisation from the individual. such attacks may happen at an individual level through phishing emails, or at an organisational level, like the data breach at Equifax that exposed the personal information of thousands of individuals.
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Of course, this does not mean that you stop using online financial services. today, most companies are heavily investing in cybersecurity with data protection as their topmost concern. however, breaches do happen, and it is best to acquaint yourself with these easy steps to protect your credit and financial wellness in the case of a breach.
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1. get information
2. change your passwords
3. get in touch with your financial institutions
4. review your bank statement regularly
5. protect your credit score

why fixed deposits may never make you rich

why fixed deposits may never make you rich
before we jump the gun, let’s get the basics sorted.
there is no denying that fixed deposits are one of the safest investment instruments that you can get your hands on. but there is a catch (there always is).
before we dive into the heart of the matter, let’s build the case by looking at some of the long-term pitfalls of investing only in fixed deposits (FDs):
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1. inflation significantly erodes valuesfixed deposits are most likely to only get you your money back. the keyword here is ‘at most’. while a return of 7-8% may look lucrative on the face value, most of the investors forget to account for value erosion due to inflation. use CRED's financial calculator to find your estimated return on investment.
2. penalties on exits before maturityhowever comprehensive your investment plans be, there is always a high chance that you may need to dissolve your FD before your maturity period. most of the banks levy a penalty of 0.5% - 1% in such cases. on top of this, your applicable interest rate may also change.
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Financial Independence Retire Early

FIRE (Financial Independence Retire Early) is a financial lifestyle movement with the motive of gaining financial independence to retire early. This can be achieved by extreme savings and investment. With the saving of 70% of the annual income FIRE proponents lines to retire early and live off small withdrawals from the saved funds.
Everyone wants to be wealthy. But it could be achieved by following some healthy financial steps for living a financial freedom life. The below mentioned are the lifesaving tips, which if you make a regular habit of your life.
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Do a Budget Every Month
Live Below your means
Check your spendings
Keep an Emergency Fund
Save for Big Purchases
Make an extra income source
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Atal Pension Yojana

Atal Pension Yojana (APY) is a government-backed pension scheme, this scheme is specially targeted at the unorganized sector, for the people who work under the unorganized sector, so they can receive regular income after retirement. This scheme was formerly known as Swavalamban Yojana. This pension scheme was launched on May 9th in Kolkata by Prime minister Narendra Modi. Under the APY Scheme tax benefit is offered which is risk-free and a pension up to Rs 5,000/- is paid per month for the scheme holder.
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Eligibility for APY
Age Limit- 18 to 40 years
Exit Age - 60 years
Contribution Period - Minimum 20 years
Pension Amount - Up to Rs 5,000/-
How to get the APY form
Get the physical APY application from any nearby bank (operated by the government).
Also, you can download the APY copy from the official website of the banks- Pension Fund Regulatory and Development Authority (PFRDA).
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What is the Process to Apply for APY Scheme?
Get the APY Application
Fill in all the details required
Provide a valid mobile number
Photocopy of Aadhaar and PAN should be provided with the APY application.
Once approved you will receive a confirmation message from the bank.

Pay later is your new credit card

Pay later is the new digital payment option similar to a credit card. Using it you can make purchases today and make the payments within the specified period. There are several Pay later products available in India and the time period is different based on the payment option you choose. The payment days vary from 15 to 45 days with no interest charged.
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Paylater products available in India:
Lazypay
EpayLater
Simpl pay
Amazon Pay Later
Flipkart Pay Later
Lazypay
LAZYPAY comes with “Buy Now. Pay Later” and Personal Loan options. Through the Buy Now Pay Later feature, Lazypay offers payment options on more than 250+ websites and Apps. The shopping can be done directly selecting the Lazypay feature on the payment screen or buying a voucher to shop on the website.
Epaylater
Epaylater has come up with a problem-solving solution to emerge in a unique way in this paylater platform. Epaylater has a tie up with Indian railways to bring 'BUY NOW & PAY LATER’ ability while booking train tickets. Especially at the time of tatkal ticket booking, as we know the tatkal booking is time-sensitive and each and every second is important at the time of payment.
Simpl Pay later
Simpl Pay later works for purchases that are simple and regular like groceries. Your billing cycle is bi-monthly (Twice a Month). Transactions done from 1 - 15th are billed on 15th and transactions done from 16 - Month End are billed on the last day of the month. It also allows you to pay the bill within the billing cycle as well through a mobile application or web application by going to the payment screen and selecting the payment option to clear the due.
Flipkart Paylater
Flipkart comes with the tagline, Buy now and Pay later option that enables the customer to build confidence in online purchases. Using Filpkart Pay later customers will pay for the purchases after experiencing and knowing the quality of the product.
Amazon Pay Later
Buy Now Pay at your Convenience. Amazon provides a maximum credit limit of up to ₹60,000 for each account. This feature can only be utilized for shopping done on the Amazon app/site. If you are planning to convert credit card transactions into EMI, then if you make those transactions using Amazon pay to convert these transactions into EMIs is very easy. Any transaction can be converted to EMI at the time of payment.
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Dynamic Asset Allocation Funds

Dynamic Asset Allocation Funds is one of the best investment instruments which invests in different sectors like equity funds, real estate, bonds, stokeslet.
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Factors to be considered before investing in Dynamic Funding:
Risks:
Analyze the risks associated with different funds and go for the safer option.
Diversified investment Options:
As the dynamic funding offers many investment options like equity, stocks, bonds, etc. During the market crisis shuffle to the reasonable or suitable option to park your money.
Returns:
As there are different options, the returns offered by different schemes will also be different, for instance the returns are higher for the equity funds, but the risk is also higher at the same time. In case of balanced funds, the investor can receive assured returns and risk is also lower, so before going for investment plan according to your portfolio.
Advantages of Dynamic Funding:
Higher returns
Liquidity
Tax Benefits
Diversification of assets
Pull control over any market volatility.
List of Top Dynamic Funding Houses in India:
Union Balanced Advantage Fund offers 11.78% returns for 3 years.
Edelweiss Balanced Advantage Fund provides 10.95% returns.
ICICI Prudential Balanced Advantage Fund offers 8.95% returns for 3 years.
Aditya Birla Sun Life Balanced Advantage Fund for 3 years offers 8.78% of returns.
IDFC Dynamic Equity Fund offers 8.33% returns for 3 years.
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Special Features of Health Insurance

health insurance plan protects you from the financial burden arising from unforeseen medical treatments and other related expenses such as pharmacy, consultation, etc.
But does health insurance provide anything extra? Yes, it does! Benefits like bonuses, restoration, cash allowance and more have become synonymous with most health insurance plans. But how they add value to your plan is something you need to know about. Let’s spare time for these special features of health insurance.
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What are the Special Features of Health Insurance?
The special features of health insurance will add to your savings, give you that extra flexibility you seek amid medical contingencies, besides helping you take care of your health, etc. Let’s learn about these features individually.
No Claim Bonus
Daily Allowance
Healthcare Benefits
Lifetime Renewability
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